AAL Stock

[WeAAsles]

No, it was not "wiped out."   It was exchanged for new American stock.
 
No, holders of AAMRQ have made a killing.   The creditors were paid, the employees got their pittance, and the rest went to the holders of old AAMRQ.

I bought a few hundred shares of LCC about 3 months before the merger was finalized at $18.50 per share. Didn't want to take a chance on AAMRQ even though they were saying that there would be a return on it. The merger gave me the opportunity to get in even though the DOJ wanted to scuttlebutt it.

 

[MetalMover]

No, it was not "wiped out."   It was exchanged for new American stock.
 
No, holders of AAMRQ have made a killing.   The creditors were paid, the employees got their pittance, and the rest went to the holders of old AAMRQ.

And the TWU took a nice share from our pittance.

 

[1AA]

And the TWU took a nice share from our pittance.

Yea and if we get back our 10% at what price? Forget about the extra 4% they embezzled from the members.

 

[WeAAsles]

And the TWU took a nice share from our pittance.

They have "taken" or "took" nothing. A portion is being "held" to satisfy the possible claim brought on by members in litigation who say they were entitled to shares. A percentage of shares were ordered "held" by the Judge who will be hearing the complaint. If the plaintiffs lose their case outright those funds "held" will then be distributed to their rightful owners.

The only thing that will be "taken" out of those shares "held" will be the cost to file the defense by the attorneys, the cost by The Labor Group to set up the formula distribution and the cost of the roadshow to explain the formula. 

As a matter of fact as the share price rises those costs become less and less of the percentage "held" to the point of where I would be surprised if it was more than 1% of the total 14% "held".  

 

[1AA]

10% in a judge ordered trust fund. The 4% is for union administrative expenses. So why pay dues for union costs? The union has an obligation to represent the members and all costs in doing so are covered by the union treasury that we as members pay the union.
Double dipping or embezzling? Which one is it?

 

[WeAAsles]

10% in a judge ordered trust fund. The 4% is for union administrative expenses. So why pay dues for union costs? The union has an obligation to represent the members and all costs in doing so are covered by the union treasury that we as members pay the union.
Double dipping or embezzling? Which one is it?

You guys have already beaten this horse to death. Other TWU members should not have to pay for something that solely benefits us anymore than you would want to pay for something that benefits a bus driver. If the shoe was on the other foot you would agree 100%.

The 4% was "held" for administrative costs AND in case there were errors in the distribution. In other words to pay YOU if they shorted you.

The final tally for administrative costs will end up being nowhere near 4%. I'll bet my prized record collection on that. Again my guess would be somewhere in the 1% range?

 

[WeAAsles]

And by the way. I have heard that so far the cost to defend ourselves against the EBO members suit is about $27 per member out of the equity. That was the cost to write and file the defense.

 

[scorpion 2]

When the dues money goes in the same hat how would any group know when its their particular dollar that's being spent to represent them? That being said what would be the issue of using a percentage of the dues being collected that represents what AA employees pay to cover the cost of litigation. To use the excuse that other members shouldn't have to pay for our particular situation is a weak argument at best. We pay in a lot more than 27 bucks every month. Use that money.  

 

[WeAAsles]

When the dues money goes in the same hat how would any group know when its their particular dollar that's being spent to represent them? That being said what would be the issue of using a percentage of the dues being collected that represents what AA employees pay to cover the cost of litigation. To use the excuse that other members shouldn't have to pay for our particular situation is a weak argument at best. We pay in a lot more than 27 bucks every month. Use that money.  

Because our dues go to pay for multiple functions within the union structure (Besides T Shirts and stupid Christmas parties) All the money that goes into dues is ultimately used to represent you. You're just currently disagreeing with how that's allocated.

Let's use "Collective Bargaining" as an example. Part of our dues are going to be used to get us a new contract in JCB talks. How many times have people said that we should have lawyers in there with us when we negotiate with the company? How many times in our careers have we had language that is not clear and leaves room for interpretation?

Well to have all of that clear costs money to have lawyers that are well versed in contracts. What if the union did (They're not) hold a percentage of our equity to get us the best contract possible next go around? If they did you might wind up paying a few hundred extra to get a contract that could have thousands more in value over the life of the CBA?

Your home and 401 have value. Do you cash that value out because you want a new car and a European vacation? NO. You keep the value of your personal portfolio diversified.  

 

[WeAAsles]

The EBO suit will be thrown out without merit since those members did not follow internal union procedures involving their issue. In other words they didn't file a grievance and follow that to it's conclusion before seeking litigation. 

So in the end if current members don't like how the equity formula was drawn up they too should file a grievance demanding restitution. After which you can then seek out legal remedies.

Might as well engage in another frivolous lawsuit that just serves to keep those funds from our hands a little longer. Why not?

 

[scorpion 2]

What a bunch of garbage. In one sentence you say all the dues money goes to represent us but I guess not when it comes to equity.  Not sure what portfolios have to do with this conversation. We are talking about union representation and dues paid to get that representation. Your spinning this discussion all over the map.  As far as lawyers in negotiations how about having one just read the T/A and give an opinion on it before the vote yes campaign begins. We both know why that doesn't happen. Even a corrupt attorney would have trouble giving a stamp of approval on one. Using equity to pay for actions that are clearly the responsibility and caused by the twu and not the members is BS. 

 

[scorpion 2]

A retired person file a grievance? The appeals process was followed and the appeal denied. It doesn't say anything about filing a grievance after its denied.

 

[Glenn Quagmire]

We are talking about union representation and dues paid to get that representation. Your spinning this discussion all over the map.  

Actually, you are drifting here. The topic is AAL Stock.

Please try not to turn this into yet another TWU sucks thread, Or another retiree gets screwed, or...well you get it...maybe.

There must be hundreds of those already.

 

[WeAAsles]

What a bunch of garbage. In one sentence you say all the dues money goes to represent us but I guess not when it comes to equity.  Not sure what portfolios have to do with this conversation. We are talking about union representation and dues paid to get that representation. Your spinning this discussion all over the map.  As far as lawyers in negotiations how about having one just read the T/A and give an opinion on it before the vote yes campaign begins. We both know why that doesn't happen. Even a corrupt attorney would have trouble giving a stamp of approval on one. Using equity to pay for actions that are clearly the responsibility and caused by the twu and not the members is BS. 

Ok I'm done with you. It's either one of two things IMO. Either you can't understand it or you chose not to? But the comment "What a bunch of garbage" tells me more than I need to know about what direction you want to lead this conversation into and frankly it just IS NOT worth it to me.

Rock on bro.

 

[WeAAsles]

Actually, you are drifting here. The topic is AAL Stock. Please try not to turn this into yet another TWU sucks thread. There must be hundreds of those already.

Glenn are you serious, lol. They have to keep trying to pander to the audience. That's all it's about you know.

So back on topic. Do you think she can hit $100.00 by next fall? I think there's a strong possibility of $60 by the end of the year.